Aberdeen Income Credit Strategies Fund (NYSE:ACP) Short Interest Up 436.1% in January

Aberdeen Income Credit Strategies Fund (NYSE:ACP) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 38,600 shares, an increase of 436.1% from the January 15th total of 7,200 shares. Based on an average daily trading volume, of 181,000 shares, the days-to-cover ratio is currently 0.2 days.

Shares of ACP stock opened at $10.18 on Monday. Aberdeen Income Credit Strategies Fund has a twelve month low of $9.35 and a twelve month high of $12.67. The business has a fifty day simple moving average of $10.22 and a 200 day simple moving average of $10.88.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 28th. Investors of record on Tuesday, February 22nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 18th. This represents a $1.20 annualized dividend and a dividend yield of 11.79%.

Several hedge funds have recently made changes to their positions in ACP. City of London Investment Management Co. Ltd. bought a new stake in shares of Aberdeen Income Credit Strategies Fund during the 2nd quarter worth $1,664,000. Rivernorth Capital Management LLC bought a new stake in shares of Aberdeen Income Credit Strategies Fund during the 2nd quarter worth $1,172,000. LPL Financial LLC lifted its position in shares of Aberdeen Income Credit Strategies Fund by 228.1% during the 2nd quarter. LPL Financial LLC now owns 149,241 shares of the investment management company’s stock worth $1,660,000 after buying an additional 103,755 shares during the last quarter. Shaker Financial Services LLC bought a new stake in shares of Aberdeen Income Credit Strategies Fund during the 4th quarter worth $987,000. Finally, UBS Group AG increased its holdings in Aberdeen Income Credit Strategies Fund by 104.4% in the 3rd quarter. UBS Group AG now owns 170,571 shares of the investment management company’s stock worth $1,885,000 after purchasing an additional 87,135 shares in the last quarter.

About Aberdeen Income Credit Strategies Fund

Aberdeen Income Credit Strategies Fund operates as a global credit, non diversified and closed-end management investment company. It intends to seek risk-adjusted returns with high current income and the potential for capital appreciation. The company was founded on October 12, 2010 and is headquartered in Philadelphia, PA.

Featured Articles

Want More Great Investing Ideas?

Leave a Reply

Your email address will not be published.